Home improvement is any renovation, addition or repair that enhances the functionality or appearance of a residential building. This may include remodeling a kitchen, bathroom, bedroom or living room, adding an extension or deck, painting the interior or exterior of the house, putting in a swimming pool, building a fence, repairing or replacing a roof, and other similar work. Home improvements can also add energy efficiency, accessibility or livability to the house.
When deciding to hire contractors for a home improvement project, it is important that the homeowner have a firm idea of what work is required. This will help them to negotiate with contractors and ensure that the contractor is not using the work as an opportunity to increase the cost of the project by including extras that were not originally discussed. This will also make it easier for the homeowner to check whether a particular contractor is licensed and insured, which is a requirement in New York State for home improvement contractors.
There are many ways that homeowners can fund a home improvement project. Some people choose to take out a personal loan or credit card, while others prefer to use a secured loan, such as a home equity line of credit (HELOC) or second mortgage. The latter option is best if the homeowner has a good understanding of how much it will cost to complete the project, as the interest rates are often lower than those on other types of loans.
Other people choose to use a service that aggregates offers from different contractors, taking on the role of broker. This can be a useful tool for homeowners who are not comfortable undertaking the research and planning phases of a home improvement project themselves, and can help to save money by eliminating the need to pay for multiple quotes. However, it is vital that the homeowner ensures that the aggregator has a track record of delivering high quality services, and that they are fully licensed and insured in New York State.
It is important that homeowners consider the impact of their home improvement projects on potential resale value before embarking on any work. The most successful home improvement projects will increase the overall appeal of the property, and be suitable for a wide range of buyers. Homeowners should be wary of attempting to over-renovate their properties, as this can actually decrease the overall value of the property.
Keeping up with routine maintenance tasks is also an effective way to improve a property without spending significant amounts of money. This will help to ensure that any problems are identified and resolved before they become more serious, and will also make the property more attractive to prospective buyers.